This might sound dumb - I am at a lost of what to do next??? A bit over 66.6% profit. If they paid me today, it would just sit in my account as I do not know what to do next. I think I might at least wait for the dividend. It should be due out soon. Gee, I need to find time to study SRX more even though it will be unlisted later this year. Very limited chance of a second suitor making a higher - actually: no chance. I could sell now, pay brokerage and get less than (even though close to) $28. Or wait, get the dividend and pay no brokerage. I don't think there will much action for the next few months. I can't see the take over being voted down.
When the price started to rise prior to any news coming, I felt something nice was going to happen. I felt relief.
Once I suffered from FOMO. Now it's FODSD - Fear Of Doing Something Dumb. I just do nothing. By luck and not by judgement, decision making, etc that SRX worked out for me. No wonder I forgot to top up on SPL or CCP 4-5 months ago. Last time I experienced a take over was Veda (VED). I made a profit with that but I purchased a very small position because I was nervous about my decision to buy. That was 3 1/2 years ago.
(PS: No need for advice. It is something I need to work out myself. I know the answer/s seem obvious to all of you.)
I remember looking up their dividend before. They only pay it once a year, around Sept? So unlikely we'll get any before/if the takeover goes through. Haven't read the proposal but scanned through the summary and didn't mention any dividend, special and such, there either.
Unless I miss something that is. Is there a coming dividend?
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As to making decisions and not sure if it was luck or your own work... It's often both I reckon.
We can always work harder to increase the results from hardwork rather than relying on luck more than not... but Fortune always play a role.
But to not sell myself too short, SRX was one of those companies we should know is a quality business. Have an idea as to its value... and the luck bit is whether or not we're lucky enough to have studied it, had it on our radar when the price dropped to the $10s to $16s, preferably around the $12s if luck... and have the cash on hand to load it up.
Some charts showing metrics that you'll find in all quality businesses.
Note the rising Green, the stable Black, the increasing Purple... the higher operating cash than reported profit with rising trend.
That's quality.
Out of this world Cash Conversion.
Inventory flying off the shelves; Credit policy are tight and get tighter with the years. Payables are laxed... i.e. suppliers are either happy with SRX's business or aren't paying attention, or both.
All Cash flowing the right way.
All quality businesses show this... at least more often than not. Some might have one or two year that's a bit off, but often it's just like above.
The old ROE measure.
So why we can't predict corporate actions, the result of lawsuits or medical trials... Businesses of this quality, with zero debt, selling at very reasonable prices... back the truck up and chances are it should end up alright.